Monday, December 23, 2019

Bank of England: Bank Underground Christmas Quiz

From the B of E's Bank Underground blog:
Before Bank Underground goes off on its Christmas holidays, it’s time for the Annual Bank Underground Christmas Quiz! We hope you enjoy testing your knowledge on our festive themed questions on economics, finance and all things central banking…
1) Keynes spent Christmas of 1910 in Ramsgate in whose festive company?
  • The winner of Britain’s best Father Christmas
  • The so-called “three wise men” of Treasury economic advisers
  • A group of pantomime actors
  • England’s most prolific reindeer breeder
2) Waldfogel’s classic paper, “The Deadweight Loss of Christmas” was criticised by Solnick & Hemenway’s subsequent paper. By how much did they find recipients valued gift above cost?
  • 25%
  • 5%
  • 10%
  • 2% 
3) Which of these items sees the biggest percentage surge in UK household expenditure relative to the other 11 months of the year in December?
  • Food
  • Clothing
  • Books
  • Alcohol
4) Which of the following countries spends the least (in PPP-adjusted prices) on Christmas presents?
  • Germany
  • France
  • The Netherlands
  • Switzerland